You and your co-founder share a vision, fueled by passion and ambition( I mean that’s the optimism that stays at the start of the business). • Yet, as the initial excitement fades and reality sets in, the strain of setbacks and conflicting priorities can surface.
1️⃣ Almost 65% of the startups fail due to conflicts with the co-founder.
2️⃣ Research indicates that the probability of a co-founder leaving increases significantly over the first 4 years. This statistic serves as a reminder that while we may start with a united front, external pressures can reshape our paths.
3️⃣ From a branding perspective 🕵️, this transition can have profound implications. A co-founder’s departure can alter your startup's identity and messaging.
One notable example of a company that faced significant challenges due to the departure of a co-founder is Uber🚕, who is no other than Travis Kalanick!
Departure of Travis Kalanick: Travis Kalanick, one of the founders of Uber, was removed as CEO in 2017 because of problems with the company’s work environment, which made people unhappy, and this was an important change for Uber as it tried to improve its image.
↩️ Steps that Uber took to battle the challenges:
✅ The board appointed a new CEO, who focused on rebuilding trust with stakeholders and improving the company's public image. ✅ Uber prioritized cultural changes aimed at fostering a more inclusive and respectful workplace environment. This included revising HR policies and enhancing employee training programs. ✅ The company took steps to improve its governance structure, ensuring better oversight and accountability within its leadership team. ✅ Uber redirected its efforts toward refining its core services, expanding into new markets, and enhancing customer experience, which helped regain investor confidence.
So what did you learn from this? You can find a combating strategy in the comments!
Got this after a small research, if you have any new points coming up, please add them too. ✅Implement "Active listening" and "Structured discussions", I quoted them for a reason! ✅ Instead of just circling the point on 'How the startup will benefit,' alter the conversation in a way that makes the co-founder feel like their participation can contribute to their personal and professional growth. ✅Develop a transparent equity distribution plan that reflects each co-founder's contributions and commitments. ✅ Build a culture of openness where the co-founders can express their concerns, and feedback without the fear of conflict. ✅ Celebrate achievements, both big and small, to maintain morale and motivation. ✅ Encourage your Co-founder's personal development, and support co-founders in pursuing personal and professional growth opportunities that align with the start-up's goals. ✅ Respect feedback from co-founders on the start-up's direction and their satisfaction with their roles.
Obviously i wouldnt sign the deal anymore
Just asking here ,if i should convince him to stay or just wind up everything?
Reason for his leaving: We have been struggling for an year & despite now raising a preseed ,he is afraid that the...
I applied for a Chief of Staff role at a recently funded startup and the first question during the interview this particular founder asks me is that why have I applied for this role when I don't have any experience with these kinda roles...
Founders out there - Thoughts on this?
How easy / difficult is it to retain board control especially Series A onwards?
What has been your learning?
